JournalTOCs

International Review of Economics
Journal Prestige (SJR): 0.21

Number of Followers: 4

Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1863-4613 - ISSN (Online) 1865-1704
Published by Springer-Verlag

[2468 journals]

Improving wealth accounting and global sustainability assessment:
assessing wealth benchmark estimates
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  Abstract: Abstract The current paper first clarifies commonalities and disparities between a 2018 report by the World Bank Group (WBG), the Inclusive Wealth Report (IWR), and Arrow et al.’s 2012 paper. It is worth comparing the measures of wealth components and reported values of the two reports and Arrow et al. 2012, since the WBG 2018 report foregoes using the present value of future consumption and employs different measures of human capital wealth than the IWR 2018 report, and as a result, the two authorities reported different country-level wealth. We clarified what methodologies, parameters, equations, and datasets were used in the reports, and on this basis determined a respective calculation method for each wealth component, or chose one of the multiple possible measures devised by us on the basis of the reports and public databases for the years 2000, 2010, 2014, and 2020. We determined and chose methods on the basis of higher coefficients of determination, or their agreement with reported values, the inclusion of related variables, and their simplicity. The chosen methods were calibrated by comparing their measured values with the values in the reports. The significant differences between the two reports can be duplicated by our assigned or chosen methods.
  PubDate: 2025-01-06
  DOI: 10.1007/s12232-024-00476-5
The influences of socio-economic forces on affordability behavior towards
containing the gap between supply and demand in the housing markets
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  Abstract: Abstract Socio-economic factors depend on several aspects, such as income level, academic achievement, and job rank of the householder. These factors control housing decisions within a certain income level or social behaviour. This study discusses the impact of socio-economic factors influencing the demand for housing towards a stable, affordable housing market. The study follows a method of estimating the influences of socio-economic forces by surveying householders' opinions on their future choices in Nablus City. This estimation was used to develop a theoretical model of housing demands in sight of socio-economic forces: affordability, modernity, prestige, and social relations. The main conclusion sustains that social forces significantly affect the affordability behaviour of householders, which produces a gap between the supply and demand for affordable housing. However, considering such forces in the supply process leads to providing householders with adequate housing on the economic and social levels. Educating residents about the affordable behaviour of housing is also needed to achieve stability in the housing market.
  PubDate: 2024-12-27
  DOI: 10.1007/s12232-024-00480-9
A simple message and two framings to enhance protective behaviours
adoption in a pandemic
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  Abstract: Abstract The paper tests the effect of a simple message and its framing on personal protective behaviours, using a survey experiment during the first Italian lockdown. Findings reveal that, for washing hands and using a face cover, intentions to comply are higher with the message and do not differ by message type. For physical distance, there is no difference due to the introduction of any message. Compliance is higher for females and increases with age. Looking at males separately a treatment effect exists: the negatively framed message is more effective. In a follow-up survey, a selected subsample of subjects reports their actual engagement. The gap is the largest relative to physical distance. To be useful a message has to be timing and can just remind a simple point. The content and the frame of the message have limited importance.
  PubDate: 2024-12-10
  DOI: 10.1007/s12232-024-00482-7
Does trust matter in lending decisions' A systematic literature review and
research agendas for future studies
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  Abstract: Abstract The business activities in the Islamic world and in Venice (Europe) demonstrate the reliance of the Middle Ages financing system on trust. Trust has been thoroughly analysed thus far in the context of the interaction between buyers and sellers, as well as in alliances. However, there is still a lack of study undertaken on the relationship between trust and loan (in Islamic terms, financing) decision-making. The first objective of this Systematic Literature Review (SLR) is to analyse previous research on the relationship between trust and lending decisions, specifically focussing on bank lending to small and medium-sized enterprises (SMEs). The second aim of this SLR is to establish research agendas for future studies. SLR is selected in order to achieve a comprehensive understanding of the matter at hand. This synthesis focusses around three main themes: the building of trust, the concept of trust, and the impact of trust on lending outcomes. There are significant opportunities for more study in the areas of trust, bank lending, and SMEs. We offer a suggestion of future research for enhancing our understanding of trust and lending decisions.
  PubDate: 2024-12-02
  DOI: 10.1007/s12232-024-00477-4
Measuring the value of public–private partnership
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  Abstract: Abstract There is a value of public–private partnership (PPP) for investors. The question is how to measure this value. There is significant financing component in any PPP because the grantor provides the operator (and consequently the investors) with a significant benefit of financing the construction. When measuring the value of financing the discount rate corresponding to separate financing transaction between operator and grantor at PPP inception. The payments for construction by grantor to operator and subsequently to investors can be decomposed into three components: (i) payments to construction company; (ii) accrued interest on debt of grantor; and (iii) lump sum PPP value for operator and subsequently for investors.
  PubDate: 2024-12-01
  DOI: 10.1007/s12232-024-00473-8
Redistributive effects of tax-benefit policies in the EU. Simulation of
reform proposals
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  Abstract: Abstract Inequality is one of the main current economic problems, affecting not just developing countries, but also major developed economies. Although inequality is generated by differences in market income, the public sector plays a key role in reducing it through the redistributive effect of the tax-benefit system. The first objective of this article is to understand and analyse the redistributive effect of tax-benefit systems in EU countries using the EUROMOD microsimulation model. The main result attained is the enormous redistributive impact of tax-benefit systems in all EU countries, reducing inequality by more than 20 percentage points. From the analysis of the different types of policies and countries it is possible to attain diverse patterns of behaviour by groups of countries and the best cases in terms of redistributive effect. Following this analysis of all EU countries, improvement measures are proposed for the specific case of one country, Spain. Three reforms that could improve the final income distribution of Spanish households are proposed: reforms in family policy, social exclusion and social security contributions. The three proposed reforms, based on policies used in other European countries, would have a significant cost, but would also achieve a much greater redistributive effect.
  PubDate: 2024-12-01
  DOI: 10.1007/s12232-024-00474-7
Individual and regional determinants of women’s participation in the
European labour market: a Labour Force Survey empirical study
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  Abstract: Abstract In line with the existing literature, the primary focus of the present paper is on understanding the multifaceted factors contributing to unequal employment opportunities for women and the potential implications for both individuals and society. Specifically, the objective is to identify meaningful risk factors that affect the probability of being employed for women in the 20–49 age group, exploring possible demographic, educational, social, and family factors, as well as territorial context factors. The analysis is conducted on the three most populous European countries (Italy, France, and Germany) as representatives of different welfare regimes. The analysis exploits the rich information available in the micro-data of the Labour Force Survey (2021) as well as Eurostat regional statistics considering individuals nested in regions (NUTS 2). A deep analysis of empirical findings sheds light on employment determinants and motivations for not working, which appear to be essentially related to family and demographic factors. These results reveal the country-specific profiles that indicate greater risk of non-employment and also provide a basis for suggesting different policy implications.
  PubDate: 2024-12-01
  DOI: 10.1007/s12232-024-00465-8
Social norms on unethical behaviors in the workplace: a lab experiment
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  Abstract: Abstract We analyze social norms on unethical behaviors in the workplace using a laboratory experiment. We conducted a norm-elicitation experiment in which we considered two unethical actions as observed in an earlier behavior experiment by Amore et al. (J Bus Ethics 183:495–510, 2023): leaders’ and workers’ untruthful reporting, and workers’ misalignment with their leader’s truthful reporting. We presented participants with Amore et al.’s (2023) background: in experimental firms (1 leader and 3 workers), each member can report their performance via automatic or self-reporting, where the latter allows for profitable and undetectable earnings manipulation. Using the Krupka–Weber procedure, we asked participants to assess the social appropriateness of the reporting decisions that the subjects in Amore et al. (2023) could have taken. We find prevailing norms against self-reporting for artificial profit inflation, and workers’ self-reporting when the leader used automatic reporting. Yet, despite these norms, many subjects in the previous experiment engaged in such unethical misreporting for personal gain. These findings reveal a disconnection between the prevailing social norms and the observed unethical behaviors.
  PubDate: 2024-11-28
  DOI: 10.1007/s12232-024-00479-2
Rank-based inequality measures: an alternative to Gini's index
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  Abstract: Abstract The Gini index of economic inequality appears to be by far the most important such index. Although a variety of alternative inequality measures have been proposed, only Gini's index (G) incorporates both the income distribution and the component ranks. This paper introduces a new inequality index ( \(I_{K}\) ) that also incorporates both the ranks and the income distribution, but with the added advantage of having the value-validity property. With the income shares considered as the weights in descending order, G becomes a decreasing linear function of the weighted mean rank whereas \(I_{K}\) is a linearly increasing function of the weighted mean reciprocal rank. Although G and \(I_{K}\) share several properties, the value-validity property ensures that \(I_{K}\) takes on values throughout its range that provide true, reliable, and realistic representations of the inequality characteristic with respect to a criterion that incorporates Euclidean metric distances between income distributions. Comparison between G and \(I_{K}\) include their numerical values based on randomly generated income distributions. Additionally, \(I_{K}\) is determined to be closely related to the coefficient of variation as a linear (proportional) function.
  PubDate: 2024-11-27
  DOI: 10.1007/s12232-024-00481-8
Examining the effect of a child tax on fertility in a two-sector model
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  Abstract: Abstract In this paper, we examine the efficacy of the child tax policy on the endogenous fertility rate in a two-sector model. We naturally assume that the investment goods sector is more capital intensive than the consumption goods sector. The endogenous fertility rate is determined by the cost of child-rearing and wage income. We find that the child tax has three effects (one direct effect and two indirect effects) on fertility. As a direct effect, the child tax increases the cost of child-rearing. The two indirect effects work in opposite directions: one raises the wage rate and the other lowers it. The total indirect effect of the child tax on wages is ambiguous, which is unique to the two-sector model. Additionally, the total effect of the child tax policy is analytically ambiguous, as in a one-sector model; however, our numerical example shows that the child tax is likely to reduce the fertility rate, unlike in the case of a one-sector model.
  PubDate: 2024-11-27
  DOI: 10.1007/s12232-024-00478-3
The impact of education costs on income inequality
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  Abstract: Abstract Reducing education costs is a crucial policy element with broad support in the U.S. However, is lowering the cost of learning a panacea for eliminating income inequality' In this paper, I theoretically examine the relationship between income inequality and the cost of education by building a three-stage overlapping generation model with two sectors and two education systems. In contrast to conventional studies treating education as a unified concept or in hierarchical order, I consider two types of education, each targeting the training of workers for different roles in production. Workers who decide to spend time learning and improving creativity skills can work to produce intermediate goods used in current production and illuminate future production technology. Coders who produce industrial robots are one example of workers who receive this type of education. The other type of education only improves workers’ efficiency and helps them become experts in positions. For instance, office clerks who receive computer training can become more productive in dealing with their daily tasks. I pick a reasonable set of parameters, and the simulation result implies that reducing the cost of practical training may end up enlarging income inequality. The key is whether the effect resulting from the wage gap between jobs (wage effect) dominates the effect of changing the share of workers in jobs (composition effect). Reducing the cost of learning creativity encourages marginal experts to learn creativity and marginal basic workers to receive training, leading to declining wage gaps and income inequality.
  PubDate: 2024-09-01
  DOI: 10.1007/s12232-024-00452-z
A capabilitarian behavioral economics: what behavioral economics can learn
from the capability approach
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  Abstract: Abstract Behavioral economics (BE) accounts for how people actually behave has proven to be very influential in multiple domains. Its insights have dislodged settled assumptions and put forward an improved understanding of human beings and their agency. Although it challenges the conventional approach, advanced by rational choice theory (RCT), because it also formally builds on it, BE shares some of RCT’s advantages as well as its shortcomings. One the one hand, it shares an important focus on freedom. On the other, it is limited to self-interest as the main motivation for human action. The latter is a limitation since human experience is much richer than that. To complement BE’s limitation, this paper suggests Amartya Sen’s Capability Approach (CA). This framework places humans and their quality of life at the locus of attention for the assessment of social states. To do so, it challenges RCT in a more fundamental way and it provides a richer account of human agency, which includes both self-regarding as well as other-regarding motivations. This combination enriches BE’s realism as well as practicality.
  PubDate: 2024-09-01
  DOI: 10.1007/s12232-024-00457-8
Victim’s identification and social categorization: first- and
second-order effects on altruistic behavior
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  Abstract: Abstract We explore in laboratory how donations to a charity can be influenced by the identifiability and the social categorization of the recipients. We find that donors give more, on average, to unidentified than to identified beneficiaries, since the latter are more likely to receive small donations than the former. Average donations are the same for in- and out-group beneficiaries; however, an in-group recipient is more likely to receive a top donation than an out-group one, whereas the latter is more likely than the former to receive an intermediate donation. Both first- and second-order effects are associated to the Dynamic Identity Fusion Index elicited from participants toward the ‘Multicultural World’.
  PubDate: 2024-08-05
  DOI: 10.1007/s12232-024-00475-6
Three times more than money: generativity, relational goods and life
satisfaction
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  Abstract: Abstract Generativity and the quality of relational goods are two key drivers of subjective well-being traditionally neglected in the economic literature. By using two different data sources – the European Social Survey (ESS) and the European Statistics on Income and Living Conditions (EU-SILC) - we investigate their impact on life satisfaction of two large samples of Italian individuals. Our findings show that the effect is positive and significant and, in both estimates from the two different data sources, a change from the lowest to the highest level of relational life has an impact three times larger than the change from the lowest to the highest income decile.
  PubDate: 2024-07-26
  DOI: 10.1007/s12232-024-00472-9
Working but hungry: precarious employment and household food insecurity in
Ghana
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  Abstract: Abstract Workers and food systems are integral to economic progress in Africa, where food insecurity is rising alongside exacerbating levels of precarious employment conditions. However, empirical literature remains scant on this relationship. This study examines the link between precarious employment and food insecurity in Ghana using the country’s first Annual Household Income and Expenditure Panel Survey. Precarious employment is a multidimensional index of income inadequacy, employment insecurity, lack of rights and protection, and an unsafe or unhealthy work environment, whereas food insecurity is measured using the Food Insecurity Experience Scale. The main finding, adjusted for endogeneity, indicates that precarious employment increases household food insecurity, a finding that is robust to alternative measures of precarious employment and food insecurity. We further find that precarious employment increases food insecurity more among female-headed households in rural areas. Relatively, employment insecurity has the biggest effect in increasing food insecurity followed by lack of rights and protection, income inadequacy, and unsafe or unhealthy work environment. These findings further demonstrate that health shocks and household asset accumulation are important channels through which precarious employment affects food insecurity. We suggest policies to mitigate health shocks and bolster household asset accumulation among workers in precarious employment to safeguard household food security.
  PubDate: 2024-07-23
  DOI: 10.1007/s12232-024-00471-w
Building Joyful cities: is urbanization always pave a path to happiness in
Africa'
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  Abstract: Abstract Achieving planned urbanization through sustainable cities and communities is one of the main objectives of the Sustainable Development Goals, and there is a rich literature on this topic. Therefore, in this paper, we examine the impact of urbanization on happiness in a sample of 30 African countries. To do so, we use the ordinary least squares (OLS) method, the Driscoll-Kraay method, whose robustness has been proven by the Lewbel two-stage least squares (2SLS) method, and the generalized moments in system (S-GMM) method for the period of 2006–2019. Our results show that urbanization significantly increases happiness in African countries. We obtain the same result by level of development (middle-income countries and low-middle-income countries) and by African regional zone, except North and Southern Africa, where we find that urbanization contributes to a deterioration in individual well-being. Similarly, our results show that although urbanization significantly improves happiness in African countries, this result may be further amplified by the level of development. We therefore suggest that a good urbanization policy (planned urbanization) should be put in place to create conditions that will increase individual happiness, given that this is an issue that has economic implications, especially in the long term.
  PubDate: 2024-07-22
  DOI: 10.1007/s12232-024-00470-x
Remote work and the effects on secondary childcare
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  Abstract: Abstract In spring 2020, stay at home orders due to the COVID-19 pandemic forced many Americans to work remotely. Simultaneously, these orders shut down schools and daycare centers, leading to anecdotal reports of large increases in multitasking. Specifically, remote workers were engaging in more secondary childcare, which, unlike primary childcare, is linked to negative effects on well-being. Using American Time Use Survey (ATUS) data for the years 2003–2021, we find that remote workers spend more time on secondary childcare than office workers and that remote work exacerbates documented father/mother differences in time spent on secondary childcare. In addition, we find evidence that self-selection into remote work creates sample selection bias, as coefficient magnitudes are reduced when selection into remote work is accounted for via an endogenous treatment model. Finally, we examine the effects of an exogenous shock, the COVID-19 pandemic, on hours spent on secondary childcare via a triple difference model. Again, our results indicate that remote work exacerbates documented father/mother differences in time spent on secondary childcare, likely decreasing mothers’ well-being.
  PubDate: 2024-06-25
  DOI: 10.1007/s12232-024-00466-7
Examining the relationship of healthcare expenditures and socio-economic
factors with population health in Russia
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  Abstract: Abstract The article follows the Grossman concept of investment in health and describes possibilities to increase human capital by addressing determinants of health. We aim to estimate the effect of healthcare expenditures and alcohol consumption on the life expectancy of men and women in Russia. Data sources are the Federal State Statistics Service of Russia and regional laws on the execution of the budgets of regional health insurance funds from 2005 to 2022. We estimate a linear regression model with fixed effects. Estimation results show that there is a significant reserve for improving health and increasing life expectancy associated with the formation of a healthy lifestyle. A 1% increase in absolute alcohol consumption at an annual level reduces the life expectancy of men by 0.035% or 8 days, and the life expectancy of women by 0.019% or 5 days, other things being equal. We show on macrodata that the effect of lifestyle factors on life expectancy is almost two times higher than the effect of healthcare expenditures in Russia. However, the effect of health system resources on life expectancy is stronger than the effect of healthcare expenditures and lifestyles. Our findings inform decision-makers responsible for initiatives aimed at improving public health.
  PubDate: 2024-06-23
  DOI: 10.1007/s12232-024-00469-4
Vilfredo Pareto 1923–2023: a special issue
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  PubDate: 2024-06-18
  DOI: 10.1007/s12232-024-00468-5
Key underlying concepts of shared prosperity: insights from a literature
review
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  Abstract: Abstract “Shared prosperity”—a social objective that all nations should pursue—has gained increasing importance in the discussion of development policy. Promotion of it has been endorsed as one of two fundamental goals meant to guide the World Bank in all its endeavours. The juncture between shared prosperity (for the sake of this paper we will use the terms shared prosperity and inclusive growth interchangeably) and poverty alleviation is appealing to a growing number of scholars and practitioners. Although a subject of increasing importance, shared prosperity has been relatively less studied and less conceptualized to date. In this paper we intend to (1) study existing research on “shared prosperity” and, on the basis of this existing research (2) identify key underlying concepts of shared prosperity. On the basis of the outcomes of this study a number of guidelines are suggested for future research which may encourage further research work in this novel area of study.
  PubDate: 2024-06-03
  DOI: 10.1007/s12232-024-00464-9

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